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Assemblymembers Dr. Joaquin Arambula (D-Fresno) and Sabrina Cervantes (D-Corona) have introduced a bill that would replace the ineffective and underutilized New Employment Credit (NEC) with a California Work Opportunity Tax Credit (WOTC) that mirrors the federal WOTC.  AB 1726 would incentivize employers to hire individuals with barriers to employment and utilize the built-in efficiencies the

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC).  A total of $219,793,004 in CCTC was budgeted for the 2018-2019 fiscal year and the $74M available during this final round may ultimately increase if GO-Biz awards less than the amounts allocated to the previous

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC) with over $75M in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property during

The initial round of applications for the California Competes Tax Credit (CCTC) during fiscal year 2018-2019 will open on July 30th, 2018 with more than $70 million in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property

The final round of applications for the California Competes Tax Credit (CCTC) during fiscal year 2017-2018 begins on 3/5/18 (M) with more than $55 million in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property during the next

The Governor’s proposed 2018-2019 budget includes an extension of the California Competes Tax Credit (CCTC) program with $180 million to be awarded annually for another 5 years and an additional $20 million annually to assist small businesses.  It appears the New Employment Credit (NEC) will also continue with $50 million available annually to encourage businesses to hire individuals with

The second round of applications for the California Competes Tax Credit (CCTC) in fiscal year 2017-2018 is now open through 1/22 (M) @ 11:59 PM (PST).  The Governor’s Office of Business and Economic Development (GO-Biz) is offering $100M of CCTC this round for businesses that hire full-time employees and invest in real and personal property over the next 5

The California Competes Tax Credit (CCTC) Committee met yesterday and approved agreements to award $69,575,082 to California businesses.  The list of awardees is posted here.  The remaining application rounds for FY 2017-18 are: January 2, 2018 through January 22, 2018 ($100M) March 5, 2018 through March, 26, 2018 ($55.4M + any remaining unallocated amounts) The LAO recently issued a

Employers may want to consider the Work Opportunity Tax Credit (WOTC) for new hires as we honor our veterans today.  WOTC is a federal income tax credit available to employers that hire individuals from targeted groups that have traditionally faced barriers to employment.  The Veterans Opportunity to Work to Hire Heroes Act of 2011 (“VOW

Recognizing all of our manufacturing clients on Manufacturing Day 2017!  If you are a manufacturer or trusted advisor to a manufacturer, why have you not already claimed the R&D Tax Credit?  #MFGDay17